Elucidate the sequence of activities for exercising managerial control in organization.
The control process in all the situations have following activities:
(i) ESTABLISHMENT OF STANDARDS: A standard is criterion against which results can be measured. These standards refer to goal, plan, objectives, targets, etc.
(ii) MEASUREMENT OF PERFORMANCE: This step in the control process includes the setting up of methods of observation, inspections and reporting. Reports at regular intervals, audits, test checks, etc. are generally done to control the performance at various levels in the organizations.
(iii) COMPARING THE ACTIVITY: Results obtained are then compared with the standards. returns received at regular intervals, audits, etc. Provide feedback for performance which is then compared to find out if there is any deviation. Negative deviation means a loss and needs remedial action, function, and as such the feedback information are ignored.
(iv) REMEDIAL ACTION: In the last activity of process of control, manager initiates action for correction of deviation from standards. For such action, a review is promptly done to make control function more effective. In good organizations, a system is made for automatic and self-regulating and self-control process.
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